7647132 7/13/2017 6:17 PM, NOK/SEK intraday: the RSI is oversold


Our pivot point is at 1.0140.


Our preference

: the downside prevails as long as 1.0140 is resistance.


Alternative scenario

: above 1.0140, look for 1.0170 and 1.0180.


Comment

: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.0143 and 1.0158).


Supports and resistances

:

1.0180 **

1.0170 *

1.0140 **

1.0130

1.0102 last

1.0070

1.0050 **

1.0040 *

1.0020 **